By FX Empire.com
The market has grabbed investors’ attention after the Bank of Japan intervened into the FOREX market to sell the yen, in another effort to stem the Yen’s gains that recorded a fresh all time high against the greenback, supporting the demand for US dollar over other currencies.
New Zealand’s currency, nicknamed Kiwi, declined versus the American dollar after the NZ economy reported that its building permits index dropped in September by more than both the prior reading and the analysts’ forecasts.
The New Zealand dollar continues to decline versus the American dollar as the demand on NZ’s currency was limited as investors followed the BOJ’s move, reducing demand on Kiwi.
On Tuesday, at 21:45 GMT (Monday) NZD average hourly earnings for the third quarter is due after it recorded a 1.2% rise in the second quarter.
The U.S. economy will issue the Construction Spending for September at 14:00 GMT, where it’s expected to come at 0.3% from the prior reading of 1.4%.
The ISM Manufacturing for October will be released at the same time, and expected at 52.3 from the previous reading of 51.6.
